LONDON, March 2, 2017 /PRNewswire/ -- The research service provides the estimated market size of welding equipment and consumables in Europe for base year 2016 and the growth rate prediction for the forecast period 2017 to 2021. Market drivers and restraints and their impact over the forecast period are also discussed. The study also analyzes the competitive structure for the base year 2016.
Key Target Audience
Clients in welding space would be interested to understand the dynamics of the Europe welding equipment and consumables market and underlying opportunities. The target audience includes welding equipment and consumables manufacturers and market participants interested in entering new regions for expansion or consolidation.
The European welding equipment and consumables market will grow at a CAGR of 3.5% and 4.3%, respectively, between 2016 and 2021. The market is very mature, and conventional technologies such as arc welding and resistance welding are the most widely employed for welding applications by a majority of the end users. However, there is very less scope for innovation in these technologies, with gas, laser, and other welding having limited customer base.
Majority of the market revenue generated in Europe is due to a large existing customer base in key industries such as construction, energy, and automotive in Central and Northern Europe. The maturity of the market has resulted in very slow growth in these parts of Europe. The slowdown in growth rate is also due to the low performance in key end-user industries such as construction and heavy industries. The demand from Northern Europe's energy industry has also been low due to global oil price crisis leading to deferment of new projects.
However, the recent developments in the expansion of automotive and other heavy industries in Eastern Europe have led to a rise in new product demand in the region. The efforts towards reducing energy dependency in Europe have also led to the sales of new energy-efficient welding equipment, leading to higher revenue. This has, in turn, mitigated the threat from low-cost Asian imports flooding the European market.
The key market segmentation includes by:
- Products (equipment and consumables)
- Industries (applications), and
The major end customers include:
- Automotive and transportation
- Heavy industries
- Energy, and
- Other process industries
The European region in the report is further segmented into:
- Northern Europe
- Central Europe
- UK & Ireland, and
- Eastern Europe
Welding equipment technology is classified into arc welding, resistance welding, gas welding, laser welding, and others, while the consumables market is segmented into submerged arc welding flux and wire, flux cored wire, stick electrode, and solid wire.
Key Questions This Study Will Answer
- Is the welding market in Europe growing? How long will it continue to grow and at what rate?
- What are the significant developments expected out of Europe's welding market?
- What are the major challenges affecting vendors in Europe's welding equipment and consumables space?
- Which are the major growth sectors in welding market poised towards growth over the forecast period?
- Which are the major companies in the equipment and consumables space and what is their market share?
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